Analyst Mitchell Kapoor of H.C. Wainwright reiterated a Buy rating on Korro Bio, retaining the price target of $100.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors surrounding Korro Bio’s promising lead candidate, KRRO-110. The drug has recently received orphan drug designation from the European Medicines Agency, which is a significant milestone as it provides development incentives such as reduced regulatory fees and market exclusivity. This designation is based on KRRO-110’s potential to treat Alpha-1 Antitrypsin Deficiency (AATD), a rare and debilitating disease, and is supported by strong preclinical data suggesting best-in-class potential.
Kapoor’s analysis also takes into account the ongoing Phase 1/2a REWRITE clinical study, which is evaluating the drug’s efficacy and safety in both healthy individuals and AATD patients. The study’s design and interim results, expected in the second half of 2025, are critical for determining the drug’s future. Additionally, a discounted cash flow analysis estimates an enterprise value of $1.0 billion, with a 35% probability of approval for KRRO-110, reflecting confidence in the drug’s precise genomic mechanism. Despite some risks, such as potential delays in clinical trials and data outcomes, Kapoor’s valuation supports a 12-month price target of $100 per share, underscoring the stock’s potential upside.
Kapoor covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Summit Therapeutics, and Halozyme. According to TipRanks, Kapoor has an average return of -12.0% and a 38.33% success rate on recommended stocks.
In another report released on July 7, RBC Capital also maintained a Buy rating on the stock with a $85.00 price target.